Middle East to Spend US$90 Billion on New Airports and Expansion Projects
Dubai-UAE: - The GCC continues to allocate large investments for developing new and existing airports with major expansions in the region’s 1,200 international, domestic and defence airports as well as new projects expected to cost around US$90 billion over the next few years, according to REED Exhibitions Middle East, one of the leading organisers of trade and consumer exhibitions including the Airport Show 2011.
According to statistics from Airport Council International (ACI), and the International Air Transportation Association (IATA), the sheer volume of current development activities in the Middle East indicates that growth rates will continue for the next decade. The two global bodies predict airports in the Middle East are expected to handle over 400 million passengers by 2020.
The optimistic outlook comes at a time when the momentum gathers pace for the 11th edition of Airport Show Dubai that will be held from 31 May - 2 June at the Airport Expo. The event will reflect the magnitude of the region-wide developments and the business potential that exists for all industry stakeholders.
Mohamad Bader-Eddin, Director of Airport Show, said: “The GCC countries and the wider region continue to register sustained growth in flight operations, as well as freight and passenger traffic. This growth has stimulated a continued flow of investments for the development and expansion of airport projects. This is estimated to be around US$90 billion for airports alone, without taking into consideration developments that complement airport infrastructure such as free zones.”
In the UAE, allocated investments for the development of Al Maktoum International Airport in Dubai is estimated at around US$8 billion, while Concourse 3 at Dubai International Airport is expected to cost nearly US$1.17 billion. Total investment for Abu Dhabi International Airport midfield is forecast to touch US$6.8 billion. Other developments in the region include King Abdulaziz International Airport (KAIA) Development Phase 1 in Jeddah with an investments equivalent to US$1.5billion, New Doha International Airport around US$11 billion, Expansion of Muscat International Airport US 1.2 billion, Bahrain airport US$335 million, and Kuwait International Airport US$2.1 billion.
Bader-Eddin added: “The favourable market conditions, the success of Airport Show Dubai 2010 and Reed Exhibitions’ ongoing efforts to facilitate existing growth opportunities for customers have together contributed to an increase in the number of participants for this upcoming edition.
“Airport Show 2011 will offer a combination of high quality networking and business development opportunities through a series of roundtable discussions, innovation and project seminars, in addition to the Hosted Buyer programme, which in fact, represents the leading airports from the region. This programme provides great opportunity for exhibitors to be associated with future investments and conduct on-the-spot business transactions.”
Airport Show 2011 will be held under the patronage of His Highness Sheikh Ahmed Bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group. The event will attract an array of suppliers of equipment and services covering all areas of airport development and operations.
The Airport Show is supported by leading aviation authorities and trade bodies including Dubai Airports, Dubai Civil Aviation Authority, UAE Contractors Association, British Aviation Group, British Airport Services & Equipment Association (BASEA), Danish Airport Group, UBIFRANCE (the French Agency for international business development), and the Netherlands Airport Technology Group.
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